$522 million to Boost Trade and Increase the Global Standard of Living

 

Washington, D.C. – Rep. Kolbe (R-AZ), today announced the creation of a $522 million Trade Capacity Enhancement Fund (TCEF) in the 2007 Foreign Operations Appropriations Bill.  The announcement came after the Foreign Operations Subcommittee completed consideration of the bill.  The fund will be managed by a new Director of Trade Capacity Enhancement who will take the lead in a more comprehensive approach to trade capacity building.  The $522 million fund will be an important component of the $1.3 billion in trade capacity assistance provided by the US government each year. It will be managed by USAID and will be particularly beneficial in assisting countries in qualifying for, implementing and benefiting from free trade agreements with the US.  

 

“The new program will be the most significant change in foreign assistance accounts in more than a decade,” said Rep. Kolbe.  “It will better combine US trade and aid, which is the most effective way to reduce global poverty.  The fund will ensure that trade is integrated more thoroughly in our foreign assistance planning.”

 

Highlights of the program:

 

·        Establishes a new Director of Trade Capacity Enhancement within USAID

·        $40 million set aside for CAFTA countries

·        $40 million set aside for countries implementing FTAs with the US in 2006 and beyond

 

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